What is the monthly payment on a $150,000 mortgage at 5% over 15 years?
$1,186.19/mo
A $150,000 mortgage at 5% over 15 years costs $1,186.19 a month in principal and interest.
How it is worked out
The standard amortising payment formula. It covers principal and interest only — property tax, insurance and any HOA or service charge are separate, and together they often add a fifth again to the monthly figure.
$150,000 × i(1+i)^n ÷ ((1+i)^n − 1), with i = 5% ÷ 12 and n = 15 × 12 = $1,186.19
Over the full term you repay $213,514, of which $63,514 is interest — 42% of the amount borrowed.
Open the full mortgage calculator to use your own figures.
Similar questions
- $150,000 · 4% · 30 years = $716.12/mo
- $150,000 · 4.5% · 15 years = $1,147.49/mo
- $150,000 · 5.5% · 15 years = $1,225.63/mo
- $150,000 · 4% · 15 years = $1,109.53/mo
- $150,000 · 4.5% · 30 years = $760.03/mo
- $150,000 · 6% · 15 years = $1,265.79/mo
Questions
- What is the monthly payment on a $150,000 mortgage at 5% over 15 years?
- A $150,000 mortgage at 5% over 15 years costs $1,186.19 a month in principal and interest. $150,000 × i(1+i)^n ÷ ((1+i)^n − 1), with i = 5% ÷ 12 and n = 15 × 12 = $1,186.19.
- How is this worked out?
- The standard amortising payment formula. It covers principal and interest only — property tax, insurance and any HOA or service charge are separate, and together they often add a fifth again to the monthly figure.
- Can I use my own figures?
- Yes — the mortgage calculator takes any values and shows the full result.